Published on 3/17/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $540,000 accelerated barrier notes on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, March 17 – Credit Suisse AG, London Branch priced $540,000 of 0% accelerated barrier notes due March 11, 2025 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes at or above its initial level, the payout at maturity will be par plus 160% of the return of the worse performing index.
If either index falls but both indexes finish at or above the 60% knock-in level, the payout will be par.
Otherwise, investors will be fully exposed to the decline of the worse performing index.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Accelerated barrier securities
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $540,000
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Maturity: | March 11, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index finishes at or above its initial level, par plus 160% of the return of the worse performing index; if either index falls but both indexes finish at or above the knock-in level, par; otherwise, investors will be fully exposed to the decline of the worse performing index
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Initial levels: | 1,449.221 for Russell, 2,972.37 for S&P
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Knock-in levels: | 869.5326 for Russell, 1,783.422 for S&P; 60% of initial levels
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Pricing date: | March 6
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Settlement date: | March 11
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 1.025%
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Cusip: | 22551NTM8
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